Second Quarter Results
(All comparisons refer to the second quarter of 2022, except as noted)
- Net income of $7.1 million, or $0.52 per diluted common share.
- Increase in total revenues of $4.0 million, or 9.0%.
- Return on average equity of 13.37%.
- Increase in net interest margin to 3.25% from 2.54%.
- Increase in facility expense transaction volume of 8.8%.
- Maintained exceptional credit quality.
- Continued to make progress on technology initiatives to increase operational efficiency.
- Repurchased 63,305 shares of Company stock.
ST. LOUIS - (BUSINESS WIRE) - Jul. 20, 2023-- Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported second quarter 2023 earnings of $0.52 per diluted share, as compared to $0.62 in the second quarter of 2022 and $0.51 in the first quarter of 2023. Net income for the period was $7.1 million, a decrease of 16.6% from $8.6 million in the same period in 2022 and a slight increase of $21,000 as compared to the first quarter of 2023.
